Bitcoin tanked 5% to $84,979 after Trump’s Bitcoin Reserve plan revealed no new BTC purchases. Investors wanted more.
Bitcoin just took a 5% nosedive, dropping from $90,400 to $84,979, after Trump’s Strategic Bitcoin Reserve announcement didn’t live up to expectations. Instead of buying new BTC, the U.S. will only use Bitcoin seized from criminal cases. Investors? Not happy.
Market watchers were hyped for government BTC buys, but Trump’s crypto czar David Sacks confirmed the reserve will only use forfeited assets. No fresh Bitcoin buys—at least for now.
Market shockwaves hit hard:
- Ether (ETH) dropped 6.23%
- XRP fell 7%
- Solana (SOL) lost 5.01%
- Cardano (ADA) crashed 9%
Investors weren’t feeling the lack of a clear funding strategy, as noted by The Kobeissi Letter.
Still, crypto leaders stay bullish. Electric Capital’s Avichal was surprised by the negative reaction, while Ash Crypto believes it’s still a step toward Bitcoin mass adoption. Dennis Porter, Satoshi Action Fund CEO, hinted that future BTC buys could still happen.
Bottom line? The Bitcoin reserve is a big move for crypto adoption, but the market wanted more.
Also Read: Nasdaq Goes 24/5: Stocks Are Catching Up to Crypto’s Non-Stop Trading
